THE GLOBAL MINERALS industry is still playing catch up after decades of underinvestment, while cost pressures and the availability of scarce resources look set to continue. These were two of the warnings given to PDAC delegates by PricewaterhouseCooper's Paul Murphy, who also predicted there would be a fall out from the global credit crunch and financing costs would rise. Describing the current environment as the classic mining cycle, Murphy suggested it was moving at a slower pace because of the influence of the BRIC (Brazil, Russia, India and China) countries.
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